HR Headlines : Courtesy: Naukri.com

HR HEADLINES
Mr. Ratan Tata lauds ‘Digital India’ launches net initiative for women
A digitally connected India will bring “tremendous power” in the hands of citizens by connecting them to the rest of the world, said Mr. Ratan Tata, lauding the government’s ‘Digital India’ programme. “I’m delighted that the Prime Minister has decided to give so much preference and priority to the fact that India will be a digitised nation,” Mr. Tata said here at the launch of an initiative to deepen Internet usage among rural women. Tata Trusts, chaired by Mr. Ratan Tata, has tied up with Google and Intel to help women access the Internet in large numbers under this initiative. “Internet will help educate India, will give access to livelihood to many women who do not have a formal livelihood, help reach out commerce to far parts of India,” he said. The three-way initiative comes on the heels of Digital India programme launched by Mr. Modi, who pitched for a digital revolution in the country. Mr. Modi also exhorted the industry to boost domestic production of electronic devices, which account for second largest imports, under the ‘Make in India’ programme. Country’s top industrial houses have pledged to invest over Rs 4.5 lakh crore under ‘Digital India’.
Source : 03-07-15   Financialexpress.com   Compiled by www.naukri.com
To Woo Students, IIT-Kharagpur Uses YouTube to Highlight Great Job Offers
One of India’s premier institutes, IIT Kharagpur, has launched a campaign to woo students to join its campus which has impeccable placement records and academic environment. The institute, though a website and YouTube channel, is offering a campus tour video where the overall view count has reached 23,000. The institute highlights its placement record, flexible curricula and exposure through the website urging students to opt for IIT-Kharagpur. The campaign will solve student queries. “Most students have the same question related to placement. Based on the past records, it’s evident that those who have maintained their academic score (CGPA) above 7.5 in any of the disciplines and participated in various extra-curricular activities at IIT Kharagpur, get an average salary in the range of 9-12 lakh per annum,” said Mr. Atal Ashutosh Agarwal, students Vice President of IIT Kharagpur. He said that a good rank in the joint exam could ensure a good department, but good placement would depend on the CGPA score. The first round of seat allocation for admissions to 87 institutes, including IITs, began on Sunday and the second round will be held on July 11.
Source : 06-07-15   Ndtv.com   Compiled by www.naukri.com
Flipkart Offers Women Employees Up To 1-Year Career Break
Flipkart has unveiled its new maternity benefit program, under which women employees can get up to a year’s career break, albeit without pay. Other than that, Flipkart will allow its female workforce six months paid maternity leave, along with four months of flexible working hours with full pay. In both cases, there will be continuity in the jobs held, Flipkart said. Beyond these, if a woman employee still wants more time, she can take up to a year’s break. However, once she’s back she will be placed according to jobs available at that point in time. “At Flipkart, we want to create a world class work environment. We want to support women employees achieve work-life balance as they continue to focus on their careers,” Mr. Mekin Maheshwari, Chief People Officer, Flipkart told in an e-mailed statement.
Source : 02-07-15   Profit.ndtv.com   Compiled by www.naukri.com
Boom time again: Expats make a beeline for India as economy reviving, start-ups buzzing
Expat hiring has been on the rise in India for over six months now. The trend has been there for some time but gathered momentum recently as technology is changing rapidly. In an increasingly globalised world, skills and competencies can never be available in all geographies all the time. So in high technology areas, demand for expatriates is rising. The number of expats being hired in niche positions is going up each year with the figure for 2015 so far showing an average of 30,000 to 35,000 of them working here. This number is set to increase by around 10-15 percent each year as Indian economy starts reviving, said Mr. Moorthy K Uppaluri, CEO, Randstad India. The sectors that seek out expats the most are manufacturing, automobiles, pharma, followed by the services sector such as IT, transportation, telecom and banking. Expats are hired for their expertise in urban infrastructure (railroads, urban connectivity – metros, motorways, express highways and roads), specialty chemicals, technology, pharma, polymers, medical devices, clinical trials and e-commerce.
Source : 03-07-15   Firstpost.com   Compiled by www.naukri.com
To stop exodus, IndiGo offers Rs 1 lakh per month hike to pilots
Amid increased attempts by Gulf carriers to poach highly-skilled commanders from India, the country’s biggest airline by market share, IndiGo, has given a salary hike of up to 13% to its pilots. The hike, which translates into an increase of around Rs 1 lakh a month for many pilots, comes at a time when InterGlobe Aviation, IndiGo’s holding company, has filed draft prospectus with the market regulator for its initial public offering (IPO), which will be the largest by an airline. IndiGo has 1,448 pilots. “The average increase in salaries for pilots is 8.1%. It may vary for different categories of pilots,” said an IndiGo spokesperson. “IndiGo announced increments for its non-crew employees two months ago, while for the pilots and cabin crew last week.” Following the latest hike, sources said IndiGo has become the best paymaster among Indian carriers. Industry experts, however, said that the increased poaching by Gulf carriers was a key reason for Indian airlines to raise salaries of its pilots. Budget carrier SpiceJet, as first reported by HT on May 25, raised salaries of its Q400 captains to keep foreign and domestic airlines at bay. Cash-rich Gulf carriers have been hiring pilots, cabin crew and engineers in droves to cater to their ever increasing fleets. As reported by HT on May 28, Gulf carriers — mainly Etihad and Qatar Airways — have poached over a 100 pilots, mainly senior captains, from India in the last six months. IndiGo, sources said, has been the worst affected. The airline, however, maintained that only 68 of its pilots had been hired by foreign carriers in the last 24 months. “That is 4.7% over a period of 24 months,” it said. “Tax-free salary, company housing, schooling and medical expenses borne by the airline are some of the perks that make Gulf carriers so attractive for pilots,” said a senior pilot with a full-service carrier. Sources said the situation was so bad that a leading low-cost carrier is learnt to have requested a Gulf airline not to hire its pilots.
Source : 05-07-15   Hindustantimes.com   Compiled by www.naukri.com
Government will soon appoint heads of major PSU banks: RBI Governor Mr. Raghuram Rajan
The government will soon appoint new heads of major public sector banks, said RBI Governor Mr. Raghuram Rajan. “The government is seized of the issue — the need to move quickly on the appointment process. Now we are very close to the announcement, but the final word on that has to come from the government,” he told reporters after a meeting of the RBI board. The department of financial services had earlier sought applications for the post of MD and CEO in Punjab National Bank, Bank of Baroda, Bank of India, Canara Bank and IDBI Bank for a fixed term of three years. A final decision will be taken by the Appointments Committee of the Cabinet (ACC), headed by Prime Minister Mr. Narendra Modi. When asked whether the absence of full time PSU bank chiefs is leading to deterioration in performance of banks, Mr. Rajan said: “All bankers are coming to us and saying the sooner we put the heads in place, the better. I don’t know what the actual analysis would reveal. I think that if the heads are important there would be some deterioration, whether it is significant or not I do not know.” In April, the department of financial services had relaxed the eligibility criteria for appointment of heads of public sector banks. While the age limit was increased from 55 to 57 years, the mandatory board-level experience for the applicants was reduced to one year from three years to invite more experienced talent for heading large public sector banks. In December, the government had appointed Managing Director and CEO in four state-owned banks — Indian Overseas Bank, Oriental Bank of Commerce, United Bank of India and Vijaya Bank. The MD and CEO of Syndicate Bank was appointed in May.
Source : 02-07-15   Business-standard.com   Compiled by www.naukri.com
RIL chairman Mr. Mukesh Ambani gets 205 times company’s median salary
Mr. Mukesh Ambani, the richest Indian and Reliance Industries (RIL) chairman and MD, has not taken a pay hike for seven years, but his pay package is over 205 times that of the median employee remuneration at RIL. This ratio stands at 439 times in case of ITC Executive Chairman Y C Deveshar. The ratio stands much lower at 89 times in case of information technology (IT) major Wipro Chairman and Managing Director Mr. Azim Premji, and at 19 times for HDFC Chairman Mr. Deepak Parekh for 2014-15. However, HDFC Bank’s Managing Director (MD) Mr. Aditya Puri got a remuneration that was 117 times of the median employee pay, while for ICICI Bank Chief Executive Officer (CEO) Ms. Chanda Kochhar it was 97 times and at over 74 times for Axis Bank’s MD and CEO Ms. Shikha Sharma. IT giant Infosys’ CEO Mr. Vishal Sikka’s pay was 116 times of median employee pay. The same ratio for HUL’s CEO Mr. Sanjiv Mehta was 93 times, but much higher at 293 times for Vedanta Chairman Mr. Navin Agarwal. Listed firms have begun disclosing these ratios and other comparisons such as salary raises for top management personnel and average staff member, for the first time pursuant to the new Companies Act and Sebi’s latest Corporate Governance Code coming into force. While a majority of the companies are still in the process of disclosing such details, the disclosures made so far by top companies show a wide variance in these ratios. There is also a huge difference between the pay increases for top management personnel and average staff in many cases.
Source : 06-07-15   Business-standard.com   Compiled by www.naukri.com
Meet Twitter India’s new Public Policy head Ms.Mahima Kaul
After leading the cyber and new media initiatives at Observer Research Foundation, Ms. Mahima Kaul is all set to take up the new responsibility as Twitter India’s Public Policy head. Her appointment was announced on Twitter India’s news, by politics and government head Mr. Raheel Khursheed. “Welcoming the awesome @misskaul to the Flock. It is a great day,” Mr. Khursheed tweeted. Previously, Ms. Kaul has worked with Index on Censorship- a UK based magazine, The Open Communication Foundation, Digital empowerment Foundation and The Indian Express. Ms. Kaul, who will be based out of Delhi, has also written extensive articles on a slew of topics including information and communications technology, cyber security, digital inclusion and internet freedom.
Source : 06-07-15   Businessinsider.in   Compiled by www.naukri.com
TCS to Hire 60,000 Employees This Fiscal, Says Chairman
Country’s largest IT services firm TCS said it will hire 60,000 people this fiscal and impart training to its existing 100,000 employees in various digital technologies. The software exporter is also ramping up investments in the digital solutions space. “Digital is a key stream for us going ahead. We are investing in training all our people. This year, we will be training 100,000 people in terms of various digital technologies,” managing director and chief executive Mr. N Chandrasekaran told the shareholders at the 20th AGM in Mumbai. The company had earlier said it was targeting to take revenues from the digital space, comprising social, mobile, analytics and cloud to $5 billion (roughly 31,821 crores) in a few years. Mr. Chandrasekaran, however, declined to give details on the progress on this target, citing the silent period ahead of the June quarter earnings. Chairman Mr. Cyrus Mistry said TCS will be hiring 60,000 people at the gross level this fiscal. It had hired 67,000 people last fiscal and had earlier said it would be hiring 35,000 freshers from campuses in FY16. On the high attrition level of 14.9 percent in the company, Mr. Mistry claimed that TCS’ attrition level is lower than the industry, but was quick to add that a high attrition is a sign that the IT sector is doing well. TCS, which has over one lakh women employees among its total workforce of over 3.14 lakh, has a higher attrition of 15.4 percent among women employees, Mr. Mistry said.
Source : 01-07-15   Jobs.siliconindia.com   Compiled by www.naukri.com
Remit PF contributions online, employers told
The Employers’ Provident Fund Organisation (EPFO) has directed employers to pay statutory contributions only through Internet banking irrespective of the amount remitted. This follows amendments to the EPF scheme, 1952, making it mandatory for employers to remit amount electronically. Moreover, employers have to get a declaration in form 11 from their employees and upload them on the Universal Account Number (UAN) portal. They must ensure UAN is activated by employees and also give some of the KYC information such as bank account details, PAN and Aadhaar number. These steps must be taken within one month of receiving UAN to ensure that employees avail services of EPFO. The UAN must be furnished in the claim forms before forwarding it to the EPFO. These measures must be done by September and failure to adhere to it will mean non compliance. Defaulting establishments shall be liable for action, a press release said.
Source : 02-07-15   Thehindu.com   Compiled by www.naukri.com
Mr. R K Shevgaonkar relieved, ministry hunts for new IIT-Delhi director
The Human Resource Development has initiated process to fill up the post of the director of the Indian Institute of Technology in Delhi days after the government accepted Mr. R K Shevgaonkar’s resignation from the post and relieved him of his duties. The ministry invited applications for the post while the process to set up a search-cum-selection committee was underway. Mr. Kshitij Gupta, a professor at the institute, is currently looking after its affairs as Acting Director after Mr. Shevgaonkar’s exit last month. “The appointment to the post will be on contractual basis for five years or till the attainment of 70 years, whichever is earlier, as per usual terms and conditions,” the ministry said inviting applications from the candidates, who should be “preferably” below 60 years. Mr. Shevgaonkar resigned as the director of the institute halfway into his term in December last year, amid reports that he was humiliated by HRD Minister Ms. Smriti Irani for not clearing arrears of former faculty of his institute and now a BJP leader Mr. Subramanian Swamy.
Source : 01-07-15   Deccanherald.com   Compiled by www.naukri.com
Mr. C Ramakrishnan elevated to Tata Motors Group CFO
Tata Motors, India’s biggest auto maker, elevated its chief financial officer Mr. C Ramakrishnan to group CFO while also providing him an extension of two years. Mr. Ramakrishnan who turned 60 last month got appointed as Tata Motors group chief financial officer, a note from the Mumbai-based company stated. The CFOs of all Tata Motors subsidiaries like Jaguar Land Rover, Daewoo to name a few will now report to Mr. Ramakrishnan. “He will continue as Chief Financial Officer and Key Managerial Personnel for Tata Motors Limited”, added the statement. The retirement age for executive directors in Tata Group is 65 while for non-executive directors it is 70. Mr. Chandrasekaran Ramakrishnan has been the CFO of Tata Motors since 2007 and was one of the senior executives to bring Jaguar Land Rover under the company’s fold in 2008. He took over from Mr. Praveen Kadle, executive director (finance and corporate affairs) who moved to Tata Capital.
Source : 01-07-15   Business-standard.com   Compiled by www.naukri.com
India Launches Online Registration System for Foreign Employers
India has launched an online registration system for foreign employers who seek to recruit Indian workers, including nurses. According to the Indian embassy in Abu Dhabi, all the foreign employers need to register in the eMigrate system. The system makes it mandatory for the employer to fill in a registration application which will then be vetted by the Indian mission. Following this, the employer can raise the demand for Indian workers in the eMigrate system and seek a permit to recruit either directly or through recruiting agents online. The foreign employer will be required to declare the terms and conditions of employment of each category of the job at the time of applying for demand registration, said Deputy Chief of Mission & Head of Chancery Ms. Neeta Bhushan. According to the embassy officials, the system will be implemented in different phases. Foreign employers recruiting more than 150 Indian workers are required to register online with immediate effect in order to raise demand and seek a permit to recruit directly or select recruiting agents. Those recruiting between 20-50 Indian workers are required to register online before the end of this month. A provision for applying for permit from Registering Authority in Ministry of Overseas Indian Affairs is available online for those who wish to recruit workers from India directly. The embassy also said that foreign employers who seek to recruit Indian nurses need to register in the eMigrate system.
Source : 02-07-15   Gadgets.ndtv.com   Compiled by www.naukri.com
Former Vodafone global CEO Mr. Arun Sarin joins Ola Cabs board
Former Vodafone global CEO Mr. Arun Sarin has joined Ola Cabs as an independent director to help drive growth for the taxi aggregator, both in emerging markets as well as globally. “Mr. Sarin is a globally respected business icon. His experience in management and in growing large businesses is invaluable to us. His mentorship and guidance will help us in further driving growth for Ola,” the Bengaluru-based firm said on its blog. “Arun not only brings global perspective, but also very deep understanding of emerging markets like India,” Ola added. “The Vodafone brand under his leadership was serving over 300 million customers globally, with a market capitalization of $150bn.”“Ola is solving real transportation problems here in India using technology, innovative business models, entrepreneurship with drivers,” said Mr. Sarin in a video broadcast hosted on Ola’s blog. “It just all comes together, really terrific service for customers so that they can have affordable transportation and yet provide jobs for hundreds of thousands of drivers in India”. Ola has raised nearly $800 million from investors, including Japanese investment firm Softbank. The firm claims to be the largest aggregator of point to point and rental cabs in India with a presence in over 100 cities and a fleet of around 200,000 vehicles.
Source : 07-07-15   Business-standard.com   Compiled by www.naukri.com
The BBC is cutting 1,000 jobs
The BBC announced it is axing 1,000 jobs in a bid to cut costs. The number of jobs cut represents 6% of its 16,672-strong licence fee-funded workforce. In a speech to staff, BBC director general Mr. Tony Hall said the corporation hopes to save £50 million a year as a result of the restructure. The BBC is under growing pressure from the UK Conservative government to become a “leaner and simpler” operation. The corporation forecasts that it could be facing a £150 million ($234 million) shortfall in income for 2016-17. The drop in income is largely related to a decrease in people paying the £145.50 ($227) annual licence fee, which the BBC heavily relies on to keep running. People in the UK are required to pay the fee to watch live TV, whether on their TV sets or via their computers and mobiles. However, as more and more people opt to watching content on-demand and via services such as Netflix, fewer are paying the annual sum. In an e-mail to staff, Mr. Hall says the BBC is making four big changes. Firstly, it is merging divisions. As a first step, the BBC’s technology, engineering, and digital teams will be merged together. This will affect staff in its public service arm, but also its worldwide commercial division. Mr. Hall is also seeking to cut out management layers – to a “maximum of seven” – having previously noted that some divisions had ten layers between the top and bottom of the organization. The BBC will also reduce management roles and will be seeking to simplify procedures across its professional and support areas such as marketing, finance, legal, HR, and communications.
Source : 02-07-15   Businessinsider.in   Compiled by www.naukri.com
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7 Ways Great Leaders Think Differently From the Rest of Us | Inc.com

7 Ways Great Leaders Think Differently From the Rest of Us | Inc.com.

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Exchange Rates and Economic Indicators

Exchange Rates and Economic Indicators

by InvestorGuide Staff

Currency exchange rates tend to be affected by macroeconomic variables, such as the major economic indicators released by governments at fixed intervals. For instance, the Gross Domestic Product (GDP), unemployment rate, and even current interest rates (prime rates) can all affect currency exchange rates. However, it is possible for major political events (such as elections, wars, etc.) to also affect currency exchange rates. Even commodities (gold, oil prices, wheat, etc.) may affect the exchange rates between countries.

via Exchange Rates and Economic Indicators.

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Europe’s Many Economic Disasters – The New York Times

Europe’s Many Economic Disasters – The New York Times.

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HR Headlines – courtesy: Naukri.com

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Majority of employees intend to switch jobs within year: Survey
With a new wave of career opportunities in the country, employees are more likely to switch jobs in the next one year, according to a survey. It found that 82 per cent of respondents were likely to change jobs in the next 12 months, with many looking for a role change. As many as 73 per cent of respondents admitted to appearing for an interview in past 12 months, Michael Page India’s 2015 Employee Intentions report said. “About 82 per cent of the respondents are likely to change roles in next 12 months,” said. High attrition levels have led to higher expectations, and the most common employee intention that has increased is changing roles, by over 26 per cent or above, it showed. Most Indians work long hours, with 34 per cent saying that they work more than 51 hours each week, it said. “India’s talent pool has very high potential indeed. The market is currently at its prime and businesses would do well to have their ears to the ground while formulating their retention strategies in order to avoid losing their star performers. “We foresee a trend wherein employers will push the envelope while doling out pay packages and other benefits,” according to Michael Page India Senior managing director Mr. Sebastien Hampartzoumian. The 2015 Michael Page India Employee Intentions report is based on the online survey responses of more than 300 employees in India and supported by insight gleaned from conversations with thousands of professionals. The survey revealed Indian organisations are lagging when it comes to driving their diversity agenda, with 42 per cent of respondents indicating that they were unaware of their company’s diversity policies.
Source : 11-06-15   Financialexpress.com   Compiled by www.naukri.com
Display Ad Chief Mr. Neal Mohan to Remain at Google
Google’s long-time display ad honcho Mr. Neal Mohan made headlines when it was reported that he might soon leave the company to take a plum job running product at Dropbox. Not so, it turns out. A Google rep confirmed that Mr. Mohan will stay on at Google’s DoubleClick division for the foreseeable future. Rumours had swirled of Mr. Mohan’s exit since Mr. Sridhar Ramaswamy took control of Google’s display ad business last year. And those rumours recently gained steam when Google made some big promotions, including boosting long-time DoubleClick product management director Mr. Brad Bender to VP of product management, which hinted at a possible succession plan. Dropbox’s failed attempt to hire Mr. Mohan solidifies his reputation as the industry’s preeminent not-quite-poachable digital advertising executive. Four years ago Mr. Mohan was reportedly close to accepting a product role at Twitter, but stayed put when Google successfully countered with $100 million in stock. Details of what Google may have offered to sweeten the pot for Mr. Mohan this time around are unknown.
Source : 15-06-15   Adexchanger.com   Compiled by www.naukri.com
IIM Bangalore to offer Massive Open Online Courses to students
The Indian Institute of Management Bangalore (IIM Bangalore) will soon bring the Massive Open Online Courses (MOOCs) into practise from July onwards. The courses will be offered free of cost. The registration process for three of these short-term courses has already kicked off. The students can now learn diverse topics as Statistics, Information Technology (IT) and Operation Management from senior faculty of IIM Bangalore, all while sitting at their homes. Being the first to join hands with edX, IIM Bangalore will now have it as a contributing member to offer MOOCs. Learners all over the world will be delivered MOOCs by means of latest technology. The edX platform has been earlier used by Massachusetts Institute of Technology (MIT) and Harvard University, who have offered interactive online courses to thousands of the students. Currently offering only three courses, IIM Bangalore plans to increase the total number of courses to eight by December this year and to ten by April 2016. Around ten faculty members of IIM Bangalore have signed up to formulate and teach the online courses. IIM Bangalore has also decided to tie up with other IIMs to offer courses to a wider audience such as corporate and service sector. According to reports, the women-men ratio (registering for the courses) is 20:80 and the institute wants an increase in the number of women. Many more premier institutes across the country have also joined the MOOC bandwagon in the last two years, in order to provide quality education to a wider community of students.
Source : 13-06-15   Indiatoday.intoday.in   Compiled by www.naukri.com
HSBC on cost-cutting mode, to axe 10,000 jobs
HSBC is set to cut thousands of staff, axe businesses in Brazil and Turkey and shrink its investment bank in a fresh attempt to become simpler and improve its financial performance. Chief Executive Mr. Stuart Gulliver is due to outline his second major strategic plan since taking over at the start of 2011 and needs to show the bank is not too big and unwieldy to succeed, investors and analysts say. Mr. Gulliver has sold or exited 77 countries or businesses in the last four years, reversing the bank’s serial acquisition strategy of the past. He has already started the further sales of sizeable — but problem — businesses in Brazil and Turkey, industry sources have said. He is expected to give details of how the bank will restructure operations in the United States and Mexico and could pledge to leave smaller countries. Some investors say Europe’s biggest bank hasn’t gone far enough to shrink its $2.6 trillion balance sheet and want to see more radical cuts in global banking and markets (GB&M), the investment bank Mr. Gulliver previously ran for five years, particularly in its credit and rates teams. In all, the measures could see more than 10,000 jobs go from HSBC’s global workforce of 266,000 staff. HSBC is also expected to outline the criteria it will use to decide whether it should move its headquarters from London to Asia, most likely Hong Kong. That could include details on how it will separate its UK retail banking operation from the rest of the bank from 2019, which it needs to do under new UK law.
Source : 09-06-15   Indiatoday.intoday.in   Compiled by www.naukri.com
Indian Railways to offer research fellowships at IITs, IIMs and other state universities
Indian Railways will award fellowships to carry out rail-related research at Central and state universities and prominent education institutions like IITs, IIMs and IIS. Fellowship scheme will be introduced at Central and state universities and centres for excellence like IITs, IIMs and IIS, Railway Board Member (Staff) Mr. Pradeep Kumar said. He said a scheme for encouraging railway employees to acquire higher qualifications at Masters Level in IITs, IIMs and institutes of repute will also be introduced. MoUs for setting up of centres for railway research at IIT Chennai, IIT-Kanpur, and IIT-Roorkee will be singed shortly, he said. Railways had recently signed a MoU with University of Mumbai in April for setting up a Centre for Railway Research. Three more such centres will be established. Mr. Kumar said an Academic Services Agreement was signed with Beijing Jiaotong University, China, for training of 100 officers of various departments in heavy haul technology. In order to benefit railway officers, M.Tech programme in Railway Engineering is being introduced in consultation with IIT, Kharagpur, from academic session 2015-16. He said services of professional agencies would be used for evaluation of railway training programmes.
Source : 17-06-15   Financialexpress.com   Compiled by www.naukri.com
Maggi ban impacts 1,500 Nestle employees
Around 1,500 workers involved in manufacturing of Maggi in India have been ‘impacted’ by the stoppage of production after ban of the instant noodles brand, according to a media report. Nestle India has about 1,500 permanent workers who were directly involved in Maggi production across five plants in India. The Maggi ban has also affected its suppliers, the report said. Nestle India’s largest supplier of spices, Moga-based Paras Spices Ltd, has already ended services of “some workers” out of the 200 temporary employees it has. Paras Spices, which has an annual turnover of Rs 115 crore, was supplying about 45 per cent of its production to Nestle India. Nestle India is in the process of destroying ‘Maggi’ noodles worth Rs. 320 crore following recent product ban and recall over food safety measures. Food Safety and Standards Authority of India had banned Maggi earlier this month, saying that the instant noodles was hazardous for human consumption after finding lead in excessive levels and presence of taste enhancer monosodium glutamate.
Source : 17-06-15   Indiainfoline.com   Compiled by www.naukri.com
Axis Bank Reappoints Ms. Shikha Sharma as MD and CEO
Private sector bank, Axis Bank Limited, has re-appointed Ms. Shikha Sharma as the bank’s managing director and CEO for a period of three years up to May 2018. “The Board of Directors of the Bank at its meeting held on January 16, 2015 had reappointed Ms. Shikha Sharma as managing director and CEO of the Bank for a further period of three years from June 1, 2015 to May 31, 2018. The re-appointment is subject to approval of the Reserve Bank of India and the shareholders of the Bank,” said the company in a letter to the National Stock Exchange (NSE). Ms. Sharma is an award-winning banker and has been the managing director and CEO of the bank since 2009. Previously, she worked with ICICI Bank and has expertise in areas such as project finance, retail banking and investment banking. She has also served as the managing director and CEO of the insurance arm of ICICI, ICICI Prudential Life Insurance.
Source : 17-06-15   Businessinsider.in   Compiled by www.naukri.com
Government launches online employment portal
In line with Prime Minister Mr. Narendra Modi’s “Digital India” programme, the government launched a digital employment exchange that will enable industrial enterprises to find suitable workers and job-seekers to find employment. The government initiative is aimed at strengthening communication between stakeholders and improving efficiencies in service delivery in the micro, small and medium enterprises (MSME) ministry. “More than 35% of the Indian population is under 35. Keeping this in mind, the prime minister worked towards converting India into a manufacturing hub. This online portal will develop entrepreneurship and will provide employment to the youth as well,” said Mr. Kalraj Mishra, Union minister for MSMEs, while launching the service at an event held by the Federation of Indian Chambers of Commerce and Industry (Ficci), an industry lobby group. Ficci president Mr. Sanjay Bhatia said the biggest problem faced by MSMEs is training employees. Small enterprises are not willing to invest in employees given that many leave for better positions in large organizations. Most MSMEs also do not have budgets for training. According to Mr. Amarendra Sinha, additional secretary and development commissioner at the MSME ministry, more than 200,000 people have so far registered on the website. The portal will be accessible free of cost for the next one month, for both employers and job-seekers.
Source : 15-06-15   Livemint.com   Compiled by www.naukri.com
Infosys CEO Mr. Vishal Sikka finds place in Glassdoor’s top 50 Highest Rated CEOs
Just a little over 10 months after he assumed charge at Infosys, India’s second-largest information technology (IT) services company, Mr. Vishal Sikka, the chief executive officer (CEO) and managing director (MD) of the Bengaluru-headquartered company, has made it to the list of top-50 Highest Rated CEOs in 2015 by career website Glassdoor. This is the first time an Infosys CEO has made it to this list, running its third year. Mr. Sikka ranks 35th in the list, which also names two other Indian-origin CEOs this year including Mr. Francisco D’souza of Nasdaq-listed IT services, company Cognizant, and Mr. Shantanu Narayen of Adobe. Mr. D’souza has been featuring on the list for three years in a row now while Mr. Narayen has made it to the list for the first time, like Mr. Sikka. However, Mr. D’souza slipped eight notches in his ranking this year. He was on rank 25th in 2014. In 2013, the year when Glassdoor started publishing the list of Highest Rated CEOs, Tata Consultancy Services CEO Mr. N Chandrasekaran and Mindtree CEO Mr. Krishnakumar Natarajanhad also found place in the list. Glassdoor compiled its figures based on company reviews submitted by US-based employees between April 22, 2014, and April 21, 2015. This year, its Highest Rated CEOs list has been topped by Google CEO Mr. Larry Page. He is followed by Mr. Mark G Parker CEO of Nike and Mr. Charles C Butt, chairman and CEO of San Antonio-based supermarket chain, H-E-B Grocery Company.
Source : 11-06-15   Business-standard.com   Compiled by www.naukri.com
Air India jobs row: Unemployed pilots want government to help
Less than a month after 65 aspiring pilots protested against Air India for rejecting them because they failed a psychometric test, a body formed by unemployed pilots has sought the civil aviation ministry’s intervention in the matter. Last week, the Unemployed Pilot Welfare Association (UPWA), a 7,000-strong body, approached the ministry, claiming the move was unfair as the rejected candidates were awarded flying licenses by the aviation safety regulator. “The candidates had spent lakhs on acquiring a commercial pilots’ license and the specialisation of flying an Airbus 320. Institutes approved by the aviation safety regulator had awarded both these qualifications. How can the airline turn them away based on a newly introduced test?” said Captain Ashok Arya from UPWA. He added that the Directorate General of Civil Aviation (DGCA) should make the test mandatory at a level before pilots make such a huge career investment. The Air India spokesperson had justified the rejections as ‘markings done by qualified psychologist from the Indian Air Force’. When asked about the points raised by UPWA, the airline spokesperson said that the queries had been sent to the department concerned. However, no response was sent till the time of going to press.
Source : 15-06-15   Hindustantimes.com   Compiled by www.naukri.com
IIM students, alumni urge government to change MBA degree criteria
As the government prepares a new set of norms for IIMs, over 400 alumni members and students of these prestigious business schools have petitioned PM Mr. Narendra Modi to make changes in the criteria for awarding of MBA degrees in the country. To ensure that the degrees awarded to IIM students are at par with the global standards, they have said that Masters in Business Administration degree should be given only for one-year programmes and the two-year courses should be for the Masters in Business Management. The petition, to the Prime Minister Mr. Modi and to the Human Resource Development Minister Ms. Smriti Irani, has been made through ‘oneyearMBA.co.in‘ and the petitioners include alumni and students from IIMs in Ahmedabad, Bangalore, Calcutta, Indore and Lucknow, among others. The government is looking to usher in significant changes in the ways the premier IIMs are governed and it plans to come up with a new legislation in this regard, while a draft bill has already been put up for the public consultations. The petition by ‘oneyearMBA.co.in‘, which presents itself as ‘a leading resource for news, guidance and analysis on one-year MBA programmes’, has asked the government to “ensure that MBA degree at IIMs is awarded to one-year MBA while MBM degrees is awarded to two-year post graduate programmes”. The website’s founder Ms. Shikhar Mohan said that the petition has been submitted through the Modi government’s MyGov.In platform, where the draft IIM bill has been put for the public consultation process.
Source : 15-06-15   Business-standard.com   Compiled by www.naukri.com
Alstom to hire up to 1,000 engineers in India in 3-4 years
French engineering major Alstom plans to hire 200-250 engineers annually in India over the next 3-4 years as it looks to double business to 800 million euro (about Rs 5,700 crore) in the country. “We love doing business in India. We are finding good business environment in India. We are looking at doubling the order book in the next three to four years. Currently, we have an order book of Euro 400 million,” Alstom (Transport) President Mr. Henri Poupart-Lafarge told reporters. Speaking highly about the Modi government’s ‘Make In India’ initiative and the thrust on industrial corridors and smart cities, he said, business environment in the country has improved in the last one year. Alstom, he said, is looking at increasing the skilled workforce in India to strengthen manufacturing and R&D capabilities and also to introduce the latest signalling systems for the metro rail projects. The Indian arm of Alstom, he added, would be hiring about 200-250 engineers every year for the next three to four years depending on the growth in business. The French company has about 800 engineers on its rolls presently in India. Poupart-Lafarge said Alstom will bid for projects in the urban transport sector which is expected to witness rapid growth with more and more cities demanding metros services.
Source : 13-06-15   Zeenews.india.com   Compiled by www.naukri.com
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Join the 1st International Day of Yoga

Join PM on Social Media


Join PM on Social Media
Interact with PM
Know the PM
Give your Suggestions

 

 

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Happening: The Poet of Geometry

“Something hit me very hard once, thinking about what one little man could do. Think of the Queen Elizabeth again: The whole ship goes by and then comes the rudder. And there’s a tiny thing on the edge of the rudder called a trim tab. It’s a miniature rudder. Just moving that little trim tab builds a low pressure that pulls the rudder around. It takes almost no effort at all. So I said that the individual can be a trim tab. Society thinks it’s going right by you, that it’s left you altogether. But if you’re doing dynamic things mentally, the fact is that you can just put your foot out like that and the whole ship of state is going to turn around. So I said, ‘Call me Trim Tab.’” – Buckminster Fuller

via Happening: The Poet of Geometry – parkhe@gmail.com – Gmail.

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OCHA Campaign: State of Humanitarian Aid

OCHA - Situation Report

State of Humanitarian Aid 

At last December’s Global Humanitarian Appeal launch, a record request was made for US$16.4 billion to meet the needs of more than 57 million people in 2015 – doubling the number of people in need of aid in just over a decade.

On 8 June, OCHA’s GHA status report found requirements have risen a further $2.7 billion to a record $18.8 billion needed to meet the needs of 78.9 million vulnerable people in 37 countries, including in new crises such as Vanuatu and Nepal. With the launch of the Yemen revised HRP today the total has risen to $19.7 billion to help some 82.5 million people.

In order to tell the evolving story of humanitarian financing more efficiently and effectively and to show how funds translate into life-saving aid for the people we strive to assist, we have just launched www.unocha.org/stateofaid, an interactive platform giving a global overview of current humanitarian needs and funding requirements, a snapshot of what we have done with the funds received so far, and a sense of the challenges we continue to face. The site also features an interactive map, pulling data from FTS, which shows in a visual way the funding status of country and regional appeals.

While donors give more generously every year, the gap between funds needed and funds provided continues to widen. Our aim is to use this platform on an ongoing basis to communicate the challenges we face in meeting affected people’s needs, especially in protracted crises, but also the incredible efforts that go into putting the funds received at good use.

Please visit the campaign and share it with your networks.

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Copyright ©  2015 UN Office for the Coordination of Humanitarian Affairs, All rights reserved.
Learn more about UNOCHA – www.unocha.org
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What is comparative advantage?

comparative advantage

Term of the Day

comparative advantage

The name for the ability of one business entity to engage in production at a lower opportunity cost than another entity. Comparative advantage, rather than absolute advantage, is useful in determining what should be produced and what should be acquired though trade.

Learn more about this term

Usage Example

Since they were able to get the materials at a much lower price than their competitors, they were able to have a comparative advantage.

via What is comparative advantage? – parkhe@gmail.com – Gmail.

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10 Hilariously Inaccurate Statements Made By US Politicians – Listverse

10 Hilariously Inaccurate Statements Made By US Politicians – Listverse.

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I like to draw and paint Sky, Mountains and Lighthouses

16th June 20157260_2 16th June 20157260 16th June 20157261_2 16th June 20157261 16th June 20157262_2 16th June 20157262 16th June 20157263_2 16th June 20157263 16th June 20157264_2 16th June 20157264 16th June 20157265_2 16th June 20157265 16th June 20157266_2 16th June 20157266 16th June 20157267_2 16th June 20157267 16th June 20157268_2 16th June 20157268

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What are business ethics?

business ethics

Term of the Day

business ethics

The examination of the variety of problems that can arise from the business environment, and how employees, management, and the corporation can deal with them ethically. Problems such as fiduciary responsibility, corporate social responsibility, corporate governance, shareholder relations, insider trading, bribery and discrimination are examined in business ethics.

Learn more about this term

Usage Example

He knew a lot about business ethics and how to go about doing it in a constructive and positive way.

via What are business ethics? – parkhe@gmail.com – Gmail.

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What does proactive mean?

proactive

 

Term of the Day

proactive

Action and result oriented behavior, instead of the one that waits for things to happen and then tries to adjust (react) to them. Proactive behavior aims at identification and exploitation of opportunities and in taking preemptory Action against potential problems and threats, whereas reactive behavior focuses on fighting a fire or solving a problem after it occurs.

Learn more about this term

Usage Example

The teacher told students that it pays off to be proactive when they take notes in class because they never know when they will have a pop quiz on the material

via What does proactive mean? – parkhe@gmail.com – Gmail.

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What is momentum?

momentum

Term of the Day

momentum

The perceived strength behind a price movement. Momentum investors seek to take advantage of upward or downward trends in stock prices or earnings. They believe that these stocks will continue to head in the same direction because of the momentum that is already behind them. The idea relies on the belief that there are a large number of investors in the market who will buy whatever stock is…

Learn more about this term

Usage Example

They did not have enough momentum to get to the next stage of the contest and I knew they would lose

via What is momentum? – parkhe@gmail.com – Gmail.

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Right things to do

                

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10 Cults And Religions Of The Criminal Underworld – Listverse

10 Cults And Religions Of The Criminal Underworld – Listverse.

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[DCN] Daily Corruption News


9 June 2015

Today’s top story

Global: World Bank wants to stop anonymous firms winning contracts
Thomson Reuters Foundation

The World Bank wants all corporate bidders on bank-funded projects to publicly reveal their true owners as a way of tackling fraud and cronyism in government contracts, a senior official said.

More news

Blogs and opinion

News from Transparency International

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What is a mandate?

mandate

 

Term of the Day

mandate

Written authorization and/or command by a person, group, or organization (the ‘mandator’) to another (the ‘mandatary’) to take a certain course of action. Normally revocable until executed, a mandate is automatically terminated on the bankruptcy, incapacitation, removal from office, or death of the mandator. A check, for example, is a mandate issued by a customer of a bank, to pay it as …

Learn more about this term

Usage Example

The recent controversial mandate requiring all employees to follow an identical dress code regardless of their gender was lifted yesterday.

via What is a mandate? – parkhe@gmail.com – Gmail.

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10 People Proclaimed As Earthly Gods And Prophets – Listverse

10 People Proclaimed As Earthly Gods And Prophets – Listverse.

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10 Unsettling Mysteries From Old Paris – Listverse

10 Unsettling Mysteries From Old Paris – Listverse.

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HR Headlines – Courtesy: Naukri.com Newsletter

HR HEADLINES
Flipkart, Amazon, Other E-tailers Likely to Offer 500 Jobs with Rs 1 Crore Package
It’s achche din (good days) for senior executives eager to switch jobs, as e-commerce companies are likely to recruit about 500 executives with an annual pay package in excess of Rs 1 crore. Flush with funds from institutional investors, firms such as Flipkart, Amazon and other e-commerce players are keen to hire talent to keep pace with the boom in the sector and get high valuations for their companies when they go for initial public offerings (IPOs). The hiring projections have been made by five head hunters including RGF Executive Search, Longhouse Consulting and ABC Consultants, according to a report. Most of the hiring is likely to take place in Flipkart and Amazon. Ola, Uber, Quikr, CommonFloor, Yepme, OLX, Junglee, FashionAndYou, Hungama, BookMyShow, Jabong, Cleartrip and Lenskart are the other companies that are expected to roll out such lucrative offers. In the past six months, Delhi-based ABC Consultants has been hunting for about 100 senior-level executives for online retailing firms, according to its director Mr. Siddharth Raisurana. Longhouse Consulting is witnessing similar demand for top executives. “We have 70-80% of our business coming from ecommerce and expect to handle 180-200 mandates this year, up from 75-85 last year,” Mr. Anshuman Das, managing partner, Longhouse Consulting, told the daily. “We are filling in at least one position a day at the leadership level,” said Mr. GC Jayaprakash, executive director at RGF Executive Search. The e-commerce firms see such executives as wealth creators who will enable the firms get better valuations during IPOs and therefore willing to ‘pay a premium’ to them, according to Mr. Jayaprakash. The hiring spree is also an outcome of funding these companies have been getting in the recent past.
Source : 29-05-15   Ibtimes.co.in   Compiled by www.naukri.com
Infosys plans stock options to incentivise sales force
IT major Infosys plans to introduce stock options as part of its sales incentivisation strategy as it focuses on generating more revenue from existing clients. At the BofA Merrill Lynch Global Tech Conference in the US, Infosys CEO Mr. Vishal Sikka said, “We are focusing on sales efficiency and mining accounts,” while admitting that the company had significantly underperformed in this respect. Account mining is a key strategy for Indian IT services companies that typically generate over 95% of their revenue through repeat business. Mr. Sikka said Infosys was also in the process of hiring a new human resource head, a post that has been vacant since April as incumbent Mr. Srikantan Moorthy had moved to a different role. Mr. Sikka said Infosys has improved its win percentage in the last 10-12 weeks, bagging six major deals of over $50 million each. He added that the company was working on improving its operational efficiency given it has lagged on many fronts. On the overall demand environment, he said there was strong momentum in the healthcare, retail and manufacturing segments. It expects volatility in the energy vertical to diminish before the end of this year. As for geography, Infosys has spotted major opportunities in Germany and China. “We have a great presence in Germany and we think it can be 1 billion euros easily,” Sikka said, though he did not provide any timeline for the target. Infosys also expects a big opportunity in China, where it recently announced a $120-million investment to set up a new development centre. Mr. Sikka expects the second half of the fiscal to contribute more through innovation.
Source : 04-06-15   Financialexpress.com   Compiled by www.naukri.com
Rent.com’s Mr. Amit Jain to head Uber in India
Taxi hailing service Uber Technologies Inc. has hired Mr. Amit Jain, president of US-based real estate portal Rent.com, to head its India operations. Uber confirmed Mr. Jain’s appointment by email. “Mr. Jain will be running all business strategy, operations, and growth in a market of global strategic importance for Uber,” an Uber spokesperson said, adding that he is “a proven leader and strategist with a depth of experience in consulting and leading operations for multinational companies”. US-based Uber, which is set to become the world’s most valuable venture-backed start-up, is seeking to improve relations with regulators and catch up with local rival Ola. Mr. Jain will join Uber as president of its India operations and relocate to Gurgaon to expand the firm’s team. “Mr. Jain embodies the entrepreneurial spirit and culture at Uber. His experience as an operator, building and scaling world-class teams will be invaluable as we enter the next phase of Uber India’s growth. Success in India is a global priority for us, and I know Mr. Jain’s leadership and passion for Uber’s mission will be transformational as we redefine urban mobility for hundreds of millions of Indians,” said Uber CEO Mr. Travis Kalanick through a spokesperson. Of late, many Indian-origin professionals have shifted to India’s booming start-up world from California’s Silicon Valley, the global nerve centre of tech-related activity.
Source : 01-06-15   Livemint.com   Compiled by www.naukri.com
Wipro hikes employee wages by 7 per cent.
Country’s third-largest software services firm Wipro said it has hiked wages of its employees by seven per cent. In line with industry standards, Wipro has announced a salary increase for eligible employees, effective June 1, 2015. The average salary hike would be seven per cent for offshore employees, Wipro Global Head (Human Resources) Mr. Saurabh Govil said in a statement. He added that onsite employees will get two per cent increase in salaries. The IT services segment of Wipro had a headcount of 158,217 as of March 31, 2015. High performers (are) being rewarded with substantially higher increases in their compensation, he said. In addition, Wipro has also increased the fixed pay component in employee salaries, at junior and mid-management levels, Mr. Govil said. Larger rival Infosys had announced pay hikes in the range of 6.5 per cent to 9 per cent to employees in India for the financial year 2015-16, while for the onsite employees, the hike was by 2 per cent. Tata Consultancy Services (TCS) has also handed out average salary hikes of about eight per cent for its employees in India.
Source : 03-06-15   Businesstoday.intoday.in   Compiled by www.naukri.com
Big public banks to now have tough corporate bosses from Infosys and Tech Mahindra
In a bid to transform state-run banks, the Indian Government is determined to hire outside talent and bureaucrats in public sector banks. The Government is going to appoint Mr. Ravi Venkatesan, an independent director on the Infosys board, and former revenue secretary Mr. Sumit Bose as chairmen of two public-sector banks. Also, Mr. TN Manoharan, who is on the board of Tech Mahindra, and former petroleum secretary GC Chaturvedi are going to head two other banks. However, names of the banks they will be soon heading could not be confirmed. “Approvals have been sought for the candidature of Mr. Ravi Venkatesan and Mr. Sumit Bose,” said a senior official with the department of personnel & training. The Government wants to hire chairmen of eight banks as it wants to reform the state-run banking system. “It should take at least a week for the announcement of chairmen of eight PSBs,” said another official, aware of the developments, adding, “the move shows the resolve of the government to give more autonomy to state-run banks and transform the way banking is done at these institutions.” The official said the shortlisted candidates were industry leaders, veteran bankers and reputed bureaucrats, which will further empower individual bank boards.
Source : 29-05-15   Businessinsider.in   Compiled by www.naukri.com
Tax on premature PF withdrawal
The Employees Provident Fund Organisation is deducting tax at source from June 1 on PF withdrawals if the accumulated PF balance at the time of payment is more than or equal to Rs. 30,000 and the employee has worked less than five years. “The Finance Act, 2015 (20 of 2015) has inserted a new section 192A regarding the payment of accumulated provident fund balance due to an employee. The provision comes into effect from June 1, 2015,” an EPFO circular said. According to the circular, TDS will be deducted at the rate of 10 per cent provided PAN is submitted. In case form 15G or 15H is submitted by the member, then no TDS will be deducted. The circular further states that TDS will be deducted at the maximum marginal rate of 34.608 per cent if a member fails to submit PAN, form 15G or 15H. However, there are certain exceptions to deduction of TDS by EPFO. TDS will not be deducted in case of transfer of PF from one account to another. Besides, it will not attract TDS if the employee is terminated from service due to ill health of member and discontinuation or contraction of business by employer. The organisation will also not deduct TDS if the employee withdraws PF after a period of five years of continuous service, including service with former employer.
Source : 03-06-15   Thehindu.com   Compiled by www.naukri.com
Aspiring Minds to invest US $6 million in R&D in India
Job credentialing platform Aspiring Minds, will invest over US $6 million (Rs 38 crore) in the next three years in research and technology innovation. The company opened its first R&D facility in Gurgaon. The new facility looks at hiring over 100 high-end technologists and researchers from IIT’s and other top notch colleges, a company release said. “The state of the art technology which the new R&D facility will develop will help us digitise the whole process of hiring in these new countries where we are planning to enter,” Aspiring Minds Co-Founder and CTO Mr. Varun Aggarwal said. The company plans to expand into China, the US and the Middle-East. Alstom India says it sets record in India. Alstom said that it has set a new record in India with the 200th unit of the 765 kV transformer and reactor manufactured from its facility at Vadodara in Gujarat. Since its inception in March 2009, this Greenfield facility has gradually ramped up its production capabilities. The company has provided the highest number of 765 kV transformers and reactors for the Indian electrical grid, it added.
Source : 29-05-15   Dnaindia.com   Compiled by www.naukri.com
Two of Cisco’s top leaders have resigned as the new CEO takes over
Two top executives close to Cisco’s outgoing CEO Mr. John Chambers have resigned, COO Mr. Gary Moore and President Mr. Rob Lloyd, the company confirmed. Both of them were considered the front runners to become the next CEO when Mr. Chambers retired but neither of them of them got the job. Instead, Cisco surprised the industry by giving the CEO job to Mr. Chuck Robbins, the guy leading Cisco’s massive sales unit including its massive sales partner organization. The outgoing executives’ last day will be July 25, at the end of Cisco’s fiscal year. It’s not really a shock that these two executives would leave the company as Mr. Robbins takes over.
Source : 01-06-15   Businessinsider.in   Compiled by www.naukri.com
₹5,000 crore set to rain down on India’s start-up space
A storm of activity in the Indian start-up space is likely to result in an inflow of at least ₹5,000 crore by the end of this calendar year. The good news for them is that investors, including angel funds, venture capitalists and private equity firms, are waiting in the wings with a war-chest to fund interesting ideas. “Many students of IITs and IIMs are now looking at being job creators by setting up start-ups, rather than being job hunters,” said ah! Ventures Founder and Chief Executive Officer Mr. Harshad Lahoti. ah! Ventures is in the process of closing three more investments in the coming weeks. Similarly, Mr. Rehan Yar Khan, investor and founder of Orios Venture Partners, is set to invest in at least five companies in the coming months. The growth in the start-up space is aided by factors such as rising internet penetration and data consumption, and increasing affordability of smartphones. But the driving force behind any start-up is the initial idea. “For the past couple of years, investments in start-ups have been more than doubling year over year. India is one of the fastest growing markets for investors and venture capital funds across the world,” said Mr. Mayank Jain Chief Executive Officer and co-founder of TalentPad, an online recruitment platform, which recently received its first institutional funding from Helion Advisors. The e-commerce sector, a part of the start-up ecosystem, has already received a total of $1,633 million during the first five months of 2015, according to a study by Grant Thornton India.
Source : 03-06-15   Thehindubusinessline.com   Compiled by www.naukri.com
Google still searching for workplace diversity
Google has been vocal about trying to fix the diversity problem among its workforce, and the company released a progress report and said it still has a lot more work to do. In the search giant’s update, the overall percentage of women workers at the company is the same as the year before at 30 percent. Latino workers made up 3 percent while black workers made up 2 percent. But there are also signs of progress: Google said the number of women hired in 2014 for technical roles went up by 1 percent.”Though we still have a long way to go, we’re seeing some early progress,” the company said in a post on its Google+ social network. When Google first divulged its diversity figures in May 2014, it was one of the first big companies in Silicon Valley to do so. Other tech giants soon followed suit. Silicon Valley has faced tough questions as the treatment of women and minorities in tech has become top of mind for the past several months. High-profile lawsuits and sexual-discrimination complaints have attracted additional scrutiny. But all this also speaks to how influential the sector has become, especially as it becomes a driving factor of the global economy and a model for employee benefits and health programs.
Source : 01-06-15   Cnet.com   Compiled by www.naukri.com
New H-1B visa norm to impact Indian IT firms
The United States Citizenship and Immigration Services (USCIS) has issued a ruling by which an H-1B visa beneficiary can’t change geographical location outside of the labour condition application (LCA), or on applications filed with his/her original petition. This move is expected to restrict the free movement of H-1B visa holders between various worksites in the country. The administrative appeals office (AAO) of USCIS, in April this year, said that the relocation of an H-1B worker to a worksite not previously listed on the LCA or H-1B petition would require a newly-certified LCA as well as an amended H-1B petition. The USCIS said on May 21 that it would give employers up to 90 days to comply with the AAO’s decision. That means, if an amended petition is not filed on or before August 19, an H-1B worker deployed at a worksite other than the one originally mentioned in the petition could be subject to revocation of his/her H-1B status. “This guidance also makes it imperative that employers contemplating moving an H-1B worker to a new location not listed on the LCA and/or I-129 petition first obtain a certified LCA covering that location, file an amended I-129 petition with USCIS, and then move the worker to the new worksite,” Mr. Shashi Bhusan, a senior analyst with equity analyst firm Prabhudas Lilladher, said in a report. “We see this scrutiny as negative for Indian IT (information technology) sector, because their talent pools are many-a-times transferred to new clients, projects, or put on bench before being reassigned,” the report said. The Indian IT services companies are heavily dependent on H-1B as well as L1 visas to depute their employees to client locations to temporarily work there.
Source : 03-06-15   Business-standard.com   Compiled by www.naukri.com
Wal-Mart kicks off next phase of wage increases
Wal-Mart is raising starting wages for more than 100,000 US department managers and workers in its deli and other specialised departments. The moves mark the next wave of wage hikes by the nation’s largest private employer, which has been under pressure from labor-backed groups for the treatment of its workers. In February, it announced it was increasing minimum wages for entry-level and long-term hourly employees to at least US $10 by next February. That increase affected 500,000 of its 1.3 million US workers. The wage hikes are part of a US $1 billion program at Wal- Mart that also includes improving training and offering employees more control of their schedules. The company is hoping that by investing in its workers, its customer service will improve, and ultimately that will encourage shoppers to spend more, helping to perk up sluggish sales at its US division.
Source : 02-06-15   Dnaindia.com   Compiled by www.naukri.com
JPMorgan Chase to cut 5,000 jobs: Sources
US banking giant JPMorgan Chase will cut thousands of jobs in a cost-saving program aimed at saving $5 billion through 2017. The largest US bank will eliminate more than 5,000 jobs by next year, said another source, confirming a report. The layoffs will affect all four of the bank`s major business units, the sources said, speaking on condition of anonymity. The goal is to cut two percent of the workforce, which was 241,145 employees at the end of December. Last year, JPMorgan slashed nearly 8,000 jobs, mainly in the mortgage loan business he bank, contacted by AFP, declined to comment. The job cuts are part of the bank`s plan, announced in February, to slash expenses in its corporate and investment banking and consumer and community banking operations. It aims to reduce annual expenses to $57 billion this year, compared with $58.4 billion in 2014. About $2 billion of that is to come from cost-cutting in retail banking, with the bank planning to close 300 of its 5,570 branches by the end of 2016. At the same time, it is boosting investment in online banking and digital technology. JPMorgan, like other big banks deemed systemically important by US regulators, is paring costs to meet requirements for bigger capital cushions to offset risks to the financial system. The bank is considering asset sales to raise additional capital funds, one of the sources said.
Source : 29-05-15   Zeenews.india.com   Compiled by www.naukri.com
250 Disney staff lose jobs to cheap Indian H1-B holders
Entertainment giant Walt Disney has laid off about 250 employees and replaced them with Indians holding H1-B visas, raising new questions on how outsourcing companies are using the temporary visas to bring immigrants into technology jobs in the U.S., according to a media report. The layoff comes amid the continued debate over immigration reform in the US as the temporary work visas are at the centre of a fierce debate in Congress over whether they complement American workers or displace them. Around 250 Disney employees were told in late October last year that they would be laid off and many of their jobs were transferred to immigrants on H1-B visas brought in by an outsourcing firm based in India. The H1-B visa programme has also been criticised for being used to bring in immigrants to do the work of Americans for less money, with laid-off American workers having to train their replacements. The layoff caused huge resentment among the Disney employees, who said they were required to train their replacements to do the jobs they had lost. The report added that Disney executives said the layoffs were part of a reorganisation, and that the company opened more positions than it eliminated. “But the layoffs at Disney and at other companies are raising new questions about how businesses and outsourcing companies are using the temporary visas, known as H-1B, to place immigrants in technology jobs in the U.S.,” it said.
Source : 04-06-15   Thehindu.com   Compiled by www.naukri.com
HSBC set to cut thousands of jobs globally
HSBC Holdings Plc is planning to cut thousands of job globally as a part of chief executive Mr. Stuart Gulliver’s overhaul plan that could also see him sell operations in Brazil and Turkey and take a knife to his investment bank. An estimated 10,000 to 20,000 jobs will be cut. The exact number has yet to be finalised and will be announced next week, it added. The job cuts will not impact HSBC`s scale of operations in Brazil and Turkey, and will not take account of a possible eventual separation of HSBC`s UK arm. HSBC declined to comment. In February Gulliver said businesses in Turkey, Brazil, Mexico and the United States needed to improve or be sold. Reuters reported in February that ING Group NV , BNP Paribas and Bahrain-based Arab Banking Corp have submitted bids to buy HSBC`s Turkish business unit.
Source : 02-06-15   Zeenews.india.com   Compiled by www.naukri.com
Posted in 1.C Suite Leadership Mentor परामर्शदाता, बुद्धि विलास Indulging in Luxury of Mind and Sharing, Stories I found interesting. | Tagged

Jay, ‘Your Inspirational Quote’ for Friday

Did you know…

… that today is World Environment Day? This day focuses attention on important environmental issues. Each year a theme is selected; the theme for 2015 is “Seven Billion Dreams. One Planet. Consume with Care.” This year it is being globally hosted by Italy, a country at the forefront of global action towards improved global nutrition and resource use.

~~~

Today’s Inspirational Quote:

“Humility is not thinking less of yourself, it’s thinking of yourself less.”

— C. S. Lewis

via Jay, ‘Your Inspirational Quote’ for Friday – parkhe@gmail.com – Gmail.

Posted in 1.C Suite Leadership Mentor परामर्शदाता, बुद्धि विलास Indulging in Luxury of Mind and Sharing, Stories I found interesting.

What is accountability?

accountability

 

Term of the Day

accountability

The obligation of an individual or organization to account for its activities, accept responsibility for them, and to disclose the results in a transparent manner. It also includes the responsibility for money or other entrusted property.

Learn more about this term

Usage Example

Workers continued to show up late, take long breaks, and surf the internet during work hours because there was no accountability from management.

via What is accountability? – parkhe@gmail.com – Gmail.

Posted in 1.C Suite Leadership Mentor परामर्शदाता, बुद्धि विलास Indulging in Luxury of Mind and Sharing

What is eutrophication?

Term of the Day

eutrophication

Slow aging process during which a bay, estuary, lake, river, stream, or other shallow body of water deteriorates into a bog or marsh, and eventually ‘dies.’ Nutritive pollution (containing nitrogen and phosphorous compounds) generated by human activities is a major factor in eutrophication because it causes an explosive growth of algae. Decaying algae consumes the oxygen dissolved in water, …
Learn more about this term
Usage Example
Humans need to be more environmentally conscious with our activities because eutrophication can destroy the fish and affect the ocean, as well as ourselves.
Posted in 1.C Suite Leadership Mentor परामर्शदाता, बुद्धि विलास Indulging in Luxury of Mind and Sharing

10 Facts That Make Ferocious Animals Even More Terrifying – Listverse

10 Facts That Make Ferocious Animals Even More Terrifying – Listverse.

We have often heard the term ” Animal Instinct’ in the Politics, Financial Markets etc. These fascinating stories about different animals’ Instincts are interesting.

Posted in 1.C Suite Leadership Mentor परामर्शदाता, Animal Instincts, बुद्धि विलास Indulging in Luxury of Mind and Sharing

10 Mysterious Men Behind History’s Creepiest (True) Conspiracy – Listverse

10 Mysterious Men Behind History’s Creepiest (True) Conspiracy – Listverse.

Posted in 1.C Suite Leadership Mentor परामर्शदाता, बुद्धि विलास Indulging in Luxury of Mind and Sharing, Stories I found interesting. | Tagged

What is social justice?

social justice

 

Term of the Day

social justice

The fair and proper administration of laws conforming to the natural law that all persons, irrespective of ethnic origin, gender, possessions, race, religion, etc., are to be treated equally and without prejudice. See also civil rights.

Learn more about this term

Usage Example

The actions of ISIS, or ISIL as President Obama calls them, can be seen as the complete opposite of social justice.

via What is social justice? – parkhe@gmail.com – Gmail.

Posted in 1.C Suite Leadership Mentor परामर्शदाता, बुद्धि विलास Indulging in Luxury of Mind and Sharing

What is par?

par

Term of the Day

par

The nominal dollar amount assigned to a security by the issuer. For an equity security, par is usually a very small amount that bears no relationship to its market price, except for preferred stock, in which case par is used to calculate dividend payments. For a debt security, par is the amount repaid to the investor when the bond matures (usually, corporate bonds have a par value of $1000,

Learn more about this term

Usage Example

We had a lot of par and that made everyone in our company feel good and excited to continue with our venture.

via What is par? – parkhe@gmail.com – Gmail.

Posted in 1.C Suite Leadership Mentor परामर्शदाता, बुद्धि विलास Indulging in Luxury of Mind and Sharing

[DCN] Daily Corruption News

1 June 2015

Today’s top story

China: China’s antigraft tips fly as hunt for tigers appears to change stripes
Wall Street Journal

The rising number of tips from the Chinese public alleging official malfeasance highlights the popularity of the country’s anticorruption campaign, even as the leadership may be shifting gears on the crackdown.

More news

Blogs and opinion

Nepal: Shaking up the status quo in Nepal
New York Times

News from Transparency International

Posted in 1.C Suite Leadership Mentor परामर्शदाता, बुद्धि विलास Indulging in Luxury of Mind and Sharing

Vikaspedia

Vikaspedia.

Posted in 1.C Suite Leadership Mentor परामर्शदाता, बुद्धि विलास Indulging in Luxury of Mind and Sharing

Perception

perception Term of the Day

perception

A conscious or unconscious state of awareness or understanding of one’s surroundings that exists within the mind and formed through sensory signals stimulated by current conditions, expectations and past memories. The confluence of complex sensory inputs often times creates a perception that is unreliable or unverifiable. In other words, it may not be based in reality.

Learn more about this term

Usage Example

The perception of the buyer is high so we are sure they are aware of their vast amount of alternative options

Posted in 1.C Suite Leadership Mentor परामर्शदाता

Acquisition

acquisition Term of the Day

acquisition

Acquiring control of a corporation, called a target, by stock purchase or exchange, either hostile or friendly. also called takeover.

Learn more about this term

Usage Example

Their acquisition of a brand new table saw greatly helped the young, struggling furniture company that was in need of such an item.

Posted in 1.C Suite Leadership Mentor परामर्शदाता

Innovation

innovation 

 Term of the Day

innovation

The process of translating an idea or invention into a good or service that creates value or for which customers will pay.
To be called an innovation, an idea must be replicable at an economical cost and must satisfy a specific need. Innovation involves deliberate application of information, imagination and initiative in deriving greater or different values from resources, and includes all

Learn more about this term

Usage Example

By allowing the developer of an innovation to reap the rewards of his efforts, we create an environment that encourages innovative thinking and hard work.

Posted in 1.C Suite Leadership Mentor परामर्शदाता

Franklin quotes

          

Posted in 1.C Suite Leadership Mentor परामर्शदाता

Ajit Doval slams Beijing’s McMahon hypocrisy – The Times of India

Ajit Doval slams Beijing’s McMahon hypocrisy – The Times of India.

Posted in 1.C Suite Leadership Mentor परामर्शदाता, बुद्धि विलास Indulging in Luxury of Mind and Sharing

66% of businesses believe in some form of bribery: Survey – The Times of India

66% of businesses believe in some form of bribery: Survey – The Times of India.

That’s Most dangerous symptom !

21 May 2015

Today’s top story

Guatemala: Guatemala arrests central bank chief, 14 others, in bribery probe
Reuters

Guatemala’s central bank governor was arrested on Wednesday in a bribery probe that also targeted a former aide of President Otto Perez, who has faced mounting pressure since his vice president quit two weeks ago over a separate graft scandal.

More news

Blogs and opinion

Global: Why rogue bank traders keep repeating history
Australian Business Review

 

News from Transparency International

Posted in 1.C Suite Leadership Mentor परामर्शदाता, बुद्धि विलास Indulging in Luxury of Mind and Sharing

Off the rails – From our Chief Economist

Off the rails – From our Chief Economist

Inbox

Just read this subscribed email from The Economist.

Isn’t this the scenario in India as well?  I guess it was the Silent Generation and the one before were the Real ‘CONSTRUCTIVE’ people – The Babyboomers were the Saving generation but what about the current one’s who are building IT Infrastructures and ‘Clouds’ – they are least cared about the falling physical infrastructure worldwide.

Thursday, 21 May, 2015

Off the rails

A derailed train killed eight people in the US last week and reignited a simmering debate about the country’s crumbling infrastructure. If you’re looking for a sign that the US is losing its position as the world’s economic superpower, then its rundown roads, rails and airports are a good starting place.

Bridges are literally falling apart. Airport runways are congested and Joe Biden has compared New York’s LaGuardia airport to the “third world”. And for a country so car-focused, it spends far less than others on road maintenance. Meanwhile, the US’s “high-speed” train manages an average speed of around 80 miles per hour, while trains in Europe and Asia hurtle along at more than twice that speed.

None of this is surprising if you look at how much the US spends on infrastructure. Government construction spending has fallen to its lowest level as a share of the economy in more than two decades. The US, which once undertook colossal projects like the transcontinental railway system and the interstate highway network, is no longer investing in its future. Now is the time to act. Low interest rates have reduced the cost of financing infrastructure projects, and better infrastructure would deliver a much-needed boost to US productivity.

What do you think are there better ways for the US to finance public infrastructure? Can private firms take on the role that the government used to serve? Let me know your thoughts on Twitter @Baptist_Simon or via email on simonjbaptist@eiu.com.

via Off the rails – From our Chief Economist – parkhe@gmail.com – Gmail.

Posted in 1.C Suite Leadership Mentor परामर्शदाता, बुद्धि विलास Indulging in Luxury of Mind and Sharing

6 Best Teas for Arthritis Symptoms | Everyday Health

6 Best Teas for Arthritis Symptoms | Everyday Health.

Posted in बुद्धि विलास Indulging in Luxury of Mind and Sharing

Old Brains Become Young Again In Neuroplasticity Study

Old Brains Become Young Again In Neuroplasticity Study.

Funny, no one thought of a Skill Development Council for the Senior Citizens !

25% of Indian Population in this category?

Posted in 1.C Suite Leadership Mentor परामर्शदाता, बुद्धि विलास Indulging in Luxury of Mind and Sharing

CEO succession starts with developing your leaders | McKinsey & Company

CEO succession starts with developing your leaders | McKinsey & Company.

Posted in 1.C Suite Leadership Mentor परामर्शदाता, बुद्धि विलास Indulging in Luxury of Mind and Sharing

The Times Kuwait – The country That rides elephants

The Times Kuwait.

Posted in बुद्धि विलास Indulging in Luxury of Mind and Sharing

Human Capital Report 2015 – Reports – World Economic Forum

Human Capital Report 2015 – Reports – World Economic Forum.

Posted in 1.C Suite Leadership Mentor परामर्शदाता, बुद्धि विलास Indulging in Luxury of Mind and Sharing

The Authentic Person’s Guide To Self-Branding | Fast Company | Business + Innovation

The Authentic Person’s Guide To Self-Branding | Fast Company | Business + Innovation.

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How to Promote Yourself Without Looking Like a Jerk – HBR

How to Promote Yourself Without Looking Like a Jerk – HBR.

Posted in बुद्धि विलास Indulging in Luxury of Mind and Sharing

The World in 2025: 8 Predictions for the Next 10 Years | Singularity HUB

The World in 2025: 8 Predictions for the Next 10 Years | Singularity HUB.

Posted in 1.C Suite Leadership Mentor परामर्शदाता, बुद्धि विलास Indulging in Luxury of Mind and Sharing

Why capital expenditures need more CFO attention | McKinsey & Company

Why capital expenditures need more CFO attention | McKinsey & Company.

I recall in my corporate life the two toughest decisions were:

  1. Getting a Capex approval from the CFO.

  2. Getting even a single additional Head Count. :)

Posted in 1.C Suite Leadership Mentor परामर्शदाता

Just a Load of Hot Air? New Study Reveals 49% of Indians Believe ‘Burping’ Their Cars Will Save Fuel – India

Just a Load of Hot Air? New Study Reveals 49% of Indians Believe ‘Burping’ Their Cars Will Save Fuel – India.

Posted in 1.C Suite Leadership Mentor परामर्शदाता, बुद्धि विलास Indulging in Luxury of Mind and Sharing

C Suite Mentoring: When To Stop?

Suite MentorC Suite Mentoring: When To Stop?
Dhananjay Parkhe

Hobby Artist, Author, Mentor,

C Suite Mentoring: When To Stop?

I met my mentee after an year and in his city after 4 years. I had a meeting at 11.30AM and we had some time to catch up.  We decided to go to a new 5 Star Hotel for Coffee.

He had come in a new Toyota Fortuner and I must say I was impressed with the feeling of Space, Gadgetry and Ease with which he was driving. We left the Car with the Valet and took a token.

After about 45 minutes we came to the porch and He presented the Token to the Valet to fetch the Car.  After couple of minutes the Valet pointed to a very smallHyundai i10 Car and said ” Sir, That’s your Car ! “ Not just the Car Owner – I was also shocked and surprised.  However, My Mentee said in all humbleness and humility to the Valet – ” But, Sirrrr… I gave you a Brand New Toyota Fortuner ! ” The Security head and the Valet’s supervisor jumped in and in a jiffy the ORIGINAL car was returned. ( No apologies – as it appears to be a regular incident in that Brand New 5 Star Hotel in New Delhi’s Twin Town Gurgaon) ! WOW !

I pondered over the incident and could not but stop and appreciate my Mentee who is a Managing Director of Two Private Firms who:

1. Kept his cool.

2. Showed respect to the Valet

3. Was Humble and displayed humility.

Personally, I felt that he has learnt quite a few lessons.  He has learnt the Dignity of Labour. He understand that People can make mistakes.  They need a chance to correct their mistakes.  There is no point creating scene in public places by show of tempers.

I would like to draw a parallel to a breast-fed child who undergoes the pain of being ‘weaned’ by the mother.  In a child’s life it is the most harrowing experience and I have seen small kids turning rebellous when this happens.  I have also seen the same happen with Calfs and other animal ‘kids’ who behave differently.  For an Adult – Mentoring is always Free but sometimes it leads to attachment, affinity yet a time comes to bid goodbye …

I had read – ‘ A Master Appears when the Pupil is Ready’ and I said to myself – ‘It is Time for the Mentor to Go as the Mentee is more than Ready ! ” :)  Do you Agree.

Posted in 1.C Suite Leadership Mentor परामर्शदाता, बुद्धि विलास Indulging in Luxury of Mind and Sharing, My Drawing/ Painting Learning continues. | Tagged

ISO, Expertise, Individual Rights and Position

ISO, Expertise, Individual Rights and Position
Dhananjay Parkhe

Hobby Artist, Author, Mentor,

ISO, Expertise, Individual Rights and Position

This is a different ISO – Not International Standards Organisation.

Term of the Day

ISO

  1. Incentive Stock Option. A type of employee stock option which provides tax advantages for the employer that a non-qualified stock option does not, but which is subject to more stringent requirements. For ISOs, no income tax is due when the options are granted or when they’re exercised. Instead, the tax is deferred until the holder sells thestock, at which time he/she is taxed for his/her…
Learn more about this term
Usage Example

I wanted to take the Iso advantage because I thought it would be better for my career in the long run.

Notable Quotable
“I haven’t reported my missing credit card to the police because whoever stole it is spending less than my wife.”
-Ilie Nastase

Term of the Day

expertise

Basis of credibility of a person who is perceived to be knowledgeable in an area ortopic due to his or her study, training, or experience in the subject matter.

Learn more about this term
Usage Example

When I was interviewed for a job last week, they asked me which areas I hadexpertise in and would know how to handle.

Term of the Day

individual rights

The freedom to act, work, think and behave without retribution bestowed upon members of an organization through legal, regulatory and societal standards. Governing authorities, such as the Occupational Safety and Health Administration (OSHA), protect individual rights in the workplace.

Learn more about this term
Usage Example

One of the great things about America are the individual rights that its citizens have in the business world today.

Term of the Day

position

  1. A general reference to an investment holding. A position can be long or short, and it can be in any asset class, such as stocks, bonds,futures, or options. A position can be open (current) or closed (past), but in general use, unless a position is specifically referred to asclosed, the assumption is that it references an open position.
  2. The financial health of a company.
  3. A job or role within a
Learn more about this term
Usage Example

You should always try to position your self in a place where you have many options to choose from at all times.

Notable Quotable
“Money is the fruit of evil, as often as the root of it.”
-Henry Fielding
Posted in 1.C Suite Leadership Mentor परामर्शदाता, बुद्धि विलास Indulging in Luxury of Mind and Sharing, My Drawing/ Painting Learning continues. | Tagged , ,

Ministry-wise PIB releases

Ministry-wise PIB releases

Posted in बुद्धि विलास Indulging in Luxury of Mind and Sharing | Tagged
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